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Growth to be around 6.5 pct: Montek

India is likely to grow at 6.5 per cent or above in the current fiscal and in 2009-10.

Written by Agencies | New Delhi |
March 27, 2009 1:46:47 pm

India is likely to grow at 6.5 per cent or above in the current fiscal and in 2009-10,Planning Commission Deputy Chairman Montek Singh Ahluwalia said on Friday.

“We are likely to get a growth rate less than 7 per cent… between 6.5 and 6.7 per cent in 2008-09,” Deputy Ahluwalia said at the CII convention in New Delhi.

He further said that the growth performance is likely to be repeated in the next fiscal 2009-10.

The stimulus packages announced earlier will show their impact from the first quarter of the next financial year,he added.

He added that the situation is not bad and it’s the negative view that is leading to a heightened perception of risk. Thus,the government allowed the fiscal deficit to go up very sharply,he said.

On a calendar year basis,2009 is going to be significantly bad than 2008,Ahluwalia said.

“Both fiscal and monetary policy require tackling the risk perception … (the) rural economy is not weaker in any sense. That part of economy is not going to be adversely affected,” he added.

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